Wheaton Precious Metals pops as dividend hike nears and Antamina step-up approaches
Wheaton Precious Metals (WPM) jumped about 4% on Friday, March 27, 2026, as investors positioned ahead of a higher quarterly dividend and the upcoming step-up in Antamina-linked silver deliveries effective April 1, 2026. The dividend was raised to $0.195 per share, with a March 31, 2026 record date and payment around April 10, 2026.
1) What’s driving WPM higher today
Wheaton Precious Metals shares rose roughly 4% in Friday’s session, extending gains tied to two near-term catalysts: a higher quarterly cash dividend and an imminent increase in silver exposure at Antamina. The company’s board declared a first-quarter 2026 dividend of $0.195 per share—up 18% from the prior quarter—payable around April 10, 2026 to shareholders of record as of March 31, 2026. (wheatonpm.com)
2) The Antamina catalyst and why timing matters
Wheaton’s latest strategic shift centers on Antamina in Peru. Through a long-term streaming agreement involving BHP, Wheaton is set to receive additional Antamina-related silver beginning with an April 1, 2026 effective date, boosting its combined entitlement to 67.5% of the mine’s silver production versus 33.75% previously under the existing stream. With the effective date days away, investors are increasingly treating the step-up as a near-term fundamental tailwind for deliveries and cash generation, especially if precious-metals prices stay supportive. (nasdaq.com)
3) Bigger picture: guidance, growth narrative, and market read-through
The run-up also reflects the market’s focus on Wheaton’s multi-year growth profile. The company has highlighted that it exceeded 2025 production guidance and has provided 2026 and long-term outlook that targets meaningful growth into the end of the decade, with projections pointing to roughly 50% growth to about 1.2 million gold-equivalent ounces by 2030. With the Antamina stream expansion a centerpiece of that plan, Friday’s move looks like a combination of near-term positioning (dividend and April 1 effective date) and renewed confidence in the longer-term production ramp. (wheatonpm.com)
4) What to watch next
Key items now shift to (1) how quickly the Antamina step-up translates into reported deliveries after April 1, 2026, (2) any updates on closing mechanics and funding impacts tied to the expanded stream, and (3) follow-through in metals prices, which can amplify or dampen sentiment for streaming names. Investors will also focus on the dividend timetable—March 31, 2026 as the record date and distribution around April 10, 2026—as a near-term sentiment anchor for income-focused buyers. (investegate.co.uk)